TL;DR
- Bets on Polymarket suggest that the odds of Joe Biden dropping out of the presidential race have reached 62%.
- Biden faces internal pressures within the Democratic Party to reconsider his candidacy, with speculation about potential successors like Kamala Harris.
- The White House and Biden’s campaign have stated their intention to continue in the race, although recent polls reflect a decline in support for his candidacy.
Following a presidential debate with disappointing results for Joe Biden and a sharp decline in the polls, bets on Polymarket regarding the incumbent president’s possible withdrawal from the presidential race have reached alarming levels. The odds of the president abandoning the electoral contest have risen to 62%. American politics are on edge, awaiting the decision of the Democratic Party and who might replace Biden.
Speculation intensified after a series of key events. Biden, after a notably poor and vague performance in the debate with Donald Trump, has faced internal calls within the Democratic Party to reconsider his candidacy. Discontent has been exacerbated by a meeting with Kamala Harris and several Democratic governors, including Gavin Newsom, Gretchen Whitmer, and JB Pritzker, all seen as potential successors if Biden decides (or is forced) to withdraw.
Polymarket Traders “Take for Granted” Biden’s Resignation
The debate, widely seen as a turning point, has left Biden at the mercy of public and political pressure. Although the candidate showed difficulties in speaking and maintaining coherence during the debate, both the White House and his campaign organization have firmly stated that Biden will continue in the race. However, recent polling data published by The New York Times, CBS, and The Wall Street Journal show a significant drop in support for his candidacy.
Internally, the discussion about the future of Biden’s campaign has intensified among Democrats. A group of moderate congress members has drafted a letter urging the president to withdraw publicly, while other legislators, like Congressman Raúl Grijalva, have openly made similar calls.
For now, the political direction of the United States heading into the presidential elections is uncertain. Uncertainty prevails, and bets on Polymarket show growing skepticism about Biden’s continuity in the race.
